Team Sky’s 2016 budget bigger than ever

Team Sky has the biggest budgets in pro cycling every year. The team recently published its annual report for the 2016 fiscal year, revealing a budget in excess of €35 million.

The team’s total budget rose from €27.7m to €35m in 2016, according to accounts filed with Companies House. Rider costs made up the largest share, rising by €7.2m to €27.7m. This is likely due to the signings of Michal Kwiatkowski and Mikel Landa, and re-signing of Chris Froome at the start of 2016.

The expanded budget came from sponsorship increases from the team’s three main backers: Sky UK Limited, 21st Century Fox and Sky Italia.

Team Sky’s budget for 2016 was up 27% on the previous year and since inception the budget has doubled.

Sky’s budget for sports science and research rose from €307,800 in 2015 to €346,400 in 2016, while its research cost more than doubled, from €26,000 in 2015 to €59,000 in 2016.